Rakta loss shrinks

General Company for Paper Industry (Rakta) (RAKT) reported a 41% Year on Year decline in its net profit in the first three months of the fiscal year

  
ArabFinance: General Company for Paper Industry (Rakta) (RAKT) reported a 41% Year on Year decline in its net profit in the first three months of the fiscal year (FY) 2020/2021, according to the company’s November 2ndfinancial statements filed to the Egyptian Exchange.

Net loss stood at EGP 16.326 million in the July-September period of 2020, compared to EGP 27.833 million achieved in the prior-year period.

Rakta signed on October 13th a technical consulting contract with India-based C2C Consultancy for the rehabilitation and development of the former's factories.

Rakta reported a net loss of EGP 12.3 million in August 2020, a 156% rise from EGP 4.8 million incurred in August 2019.

Rakta is an Egypt-based public shareholding company engaged in the production and distribution of printing and wrings papers, and multi-layered duplexes carton papers.

Copyright © 2020 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Equities